CCS gets US bipartisan push
Kevin Cramer, a Republican senator from shale-rich North Dakota, said March 29 he was adding his voice to a bipartisan chorus expressing support for carbon capture technology.
Cramer joined his colleagues in the Democratic Party to introduce the Carbon Capture Utilization and Storage Tax Credit Amendments Act.
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“By extending and expanding access to carbon capture tax credits, our bipartisan bill would allow innovators in our state to increase their investments, further research the technologies, and ultimately lower emissions,” he said.
If passed, the bill would enhance so-called 45Q tax credits that allow companies to get financial relief for every ton of carbon they sequester. Carbon from oil and gas reservoirs can be stored in depleted fields or salt formations.
Sen. Tina Smith, the Minnesota Democrat who introduced the bill, said carbon, capture and storage is a vital component of the effort to cut emissions from energy and other industries.
“Climate scientists tell us that if we are to avoid the worst of the climate crises, we will absolutely need direct air capture to pull excess carbon dioxide out of the atmosphere, and this bill provides increased support for that emerging type of carbon capture,” she said March 25.
President Joe Biden embarked on a clean-energy agenda on his first day of office, cancelling a permit for the Keystone XL oil pipeline through one of his initial executive orders.
A few days before Biden was sworn into office on January 20, US supermajor Chevron signed a letter of intent with San Jose-based startup Blue Planet Systems to explore carbon capture and utilisation technologies, signifying the oil and gas industry's embrace of the energy transition.
“If our shared goal really is providing reliable energy while protecting the environment, Congress should pass our legislation and the Biden Administration should support it,” Cramer said.